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Northcore Resources Inc.: Private Placement

MONTREAL, QUEBEC--(Marketwire - Feb 11, 2013) - Northcore Resources Inc. (TSX VENTURE:NCR) ("NCR" or the "Corporation") announces the closing of its first tranche private placement of an amount of $120,000 according to TSX-V rules and regulations. The proceeds of this first tranche private placement will serve to pay the following creditors of the Corporation:

Consultant fees $25,500
Legal firm fees $4,306.22
Auditor fees $50,000
Administration fees $518.64
TSX fees 862.31
Proxy & regulatory/ communications $84.44
Transfer Agent fees $8,623.15
Property Payment $29,794.13
Total : $119,688.89

Also, the Corporation wishes to disclose that all the directors of said Corporation duly approved this first tranche private placement as well as the use of proceeds.